Colorado, Weld jobs increase; unemployment rate stable

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Colorado’s unemployment rate has sunk again through the summer, down to 5.3 percent, according to numbers released Monday from the state Department of Labor and Employment.

Weld County’s rate remains unchanged over the month at 5.4 percent, though the county actually lost 800 jobs from June to July. Surprisingly, 100 of those positions came from Weld’s strongest industry, oil and gas. The industry, however has put 2,100 people into work this year, representing half of the job gains for the entire county, and the July rate is nearly 2 percentage points lower than the same month a year ago.

Trade, transportation and utilities has gained 800 jobs on the year.

In the last month, manufacturing gained the most jobs at 200, which also is a year-to-date number. Trade, transportation and utilities gained 100 positions from June, as well as transportation warehousing and utilities.

Last year at this time, the unemployment rate was 7.2 percent in Weld County.

The Fort Collins-Loveland metropolitan statistical area increased a tenth of a percent to 4.3 percent over the month, but it is still below the 5.5 percent recorded last year at this time.

Job gains are derived from a survey of employers, and the unemployment rate is derived from a survey of households.

Overall, the state gained 5,500 jobs over the month, according to the survey of business establishments.

The state reported in a news release that the average workweek for employees decreased to 34.4 hours a week, form 34.8 hours, and average hourly earnings increased to $26.15 from $25.54.

Throughout the state, the largest job gains were in education and health, construction and professional and business services. The largest statewide decline was in leisure and hospitality.